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ITT Exelis reaches patent settlement agreements with Verizon,Qualcomm & Kyocera

ITT Exelis (XLS) has reached settlement agreements with four companies regarding patent infringement claims related to Exelis assisted GPS technology. The settlement agreements resolve all issues regarding the company’s claim that the mobile devices, components and networks sold or supported by Verizon (VZ), Qualcomm (QCO), LG and Kyocera (KYO), incorporating assisted GPS technology, infringed on Exelis patent rights. Specific details of each of the settlement agreements remain confidential.